Bullion Report of 11th Feb 2021

Bullion Report of 11th Feb 2021

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As we given report on  9 Feb 2021 same level working since 9 Feb 2021. So follow the same view till not break the given range.

Gold

Range: 48197 – 47411

Our Preference: Sell Gold 48197 for target 47726 & 47411 with SL only above 48400+

Alternative Scenario: Buy Gold 48411+ for target 48822 & 49248 with SL only below 48190.

Momentum: Buy Gold 47750 with SL 47500 for target 48190.

As we have seen Gold just boom up from 46622 = 1787$ to move till 1844.6 = 48100 around by Monday night. On Monday there was a gap up opening into international COMEX Gold + Silver.

COMEX Future Gold has add on premium which is a good sign for upside in Gold.
Silver will touch near 28.14$ & Gold 1851.4$ which is a good resistance for jobbing purpose.

Silver

Range: 68115 – 72500

Our Preference: Buy Silver 69300+  = 27.10 with SL 68700 for target 71289

Alternative Scenario: Sell Silver 71300 = 28.14 with SL 28.55 & 71700 for target 70000.

 

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